Weekly Update - Layer 1 & Layer 2 News (Week 46, 16/11/2021 - 22/11/2021)
El Salvador President Nayib Bukele reveals plans for $1B BTC bond issue, Bitcoin City.
El Salvador President Nayib Bukele announced plans to issue $1B in Bitcoin (BTC) bonds, through Blockstream’s Liquid sidechain. He also said that the bond’s proceeds will be used to build Bitcoin City, a new city based around Bitcoin with no tax beyond VAT.
Avalanche (AVAX) hit a new ATH of $144.96 after being listed on Binance.US, in addition to the recent announcement of a partnership between Ava Labs and Deloitte for the latter’s use of the Avalanche blockchain.
Crypto.com added Polygon (MATIC) support for Ethereum (ETH) deposits and withdrawals. At the time of writing, Cronos has processed 2.39M transactions, logged 85,499 unique wallet addresses, and is ranked #17 in terms of chain TVL on DeFi Llama.
Binance has integrated Arbitrum One, allowing its users to directly deposit funds through Arbitrum One without using the Arbitrum Bridge. Withdrawals via Arbitrum One are due to be implemented in the future.